With smartphones in every pocket, Millennials are equipped and have become accustomed to a new way of shopping. With over $200 billion in annual buying power, Millennials are an important group to cater to; but how much are retailers considering them as they update their marketing strategies?
While Millennials do still enjoy in-store purchases, 85% like to use their mobile devices to research products before making purchases. Retailers who are aware of this keep their online presence strong and use reviews to their advantage. 50% of Millennials will visit a retailer’s location when they are offered a 20% discount, yet 72.7% of retailers do not offer mobile coupons to their shoppers. The retailers, who are bringing their business into the future, catering to Millennials in their strategies, will see the most success in the years to come. Merchant Warehouse surveyed over 1,000 Millennial shoppers and retailers, presenting their findings in the infographic below.